Motsepe to head Brics council

South African billionaire Patrice Motsepe has been appointed chairman of the newly-formed Brics Business Council.

The Black Management Forum welcomed the appointment, the Sowetan reported today. BMF managing director Nicholas Maweni told the Sowetan the council would deal with various business issues.

The four other members of the council are representatives from the other Brics countries - Brazil, Russia, India, and China.

“The council will give us an opportunity to have a business body that will highlight economic opportunities and issues facing each country. Each member country will provide market access to its Brics partners,” Maweni was quoted as saying.

“This means that, because South Africa imported a lot of goods, we will see a balancing of trade in which we will be given the opportunity to start exporting as well.”

Motsepe’s appointment happened during the Fifth Brics Summit. The two-day summit, which began yesterday, is taking place in Durban.

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